Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

It is the same question just multiple parts. please use photo 1 to refer back to. thanks in advance for helping me! Saved Help Required

It is the same question just multiple parts. please use photo 1 to refer back to. thanks in advance for helping me! image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Saved Help Required information Problem 11-4A Analyzing changes in stockholders' equity accounts LO C3, P2, P3 The following information applies to the questions displayed below. The equity sections for Atticus Group at the beginning of the year (January 1) and end of the year (December 31) follow Stockholders' Equity (January 1) Common stock-$4 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $160,000 120,000 320,000 Total stockholders' equity $600,e00 Stockholders' Equity (December 31) Common stock-$4 par value, 100,000 shares authorized, 47,400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($30,000 restricted by treasury stock) $189,600 179,200 400,000 768,800 (30,000) $738,800 Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year Jan. 5 Declared a $0.50 per share cash dividend, date of record January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $e.50 per share cash dividend, date of record April 10. July 5 Declared a $0.50 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stock's market va lue was $12 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $0.50 per share cash dividend, date of record October 10. Stockholders' Equity (December 31) Common stock-$4 par value, 100,000 shares authorized, 47,400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($30,e00 restricted by treasury stock) $189,600 179,200 400,000 768,800 (30,000) Less cost of treasury stock Total stockholders' equity $738,800 The following transactions and events affected its equity during the year 5 Declared a $e.50 per share cash dividend, date of record January 10. Jan. Mar. 20 Purchased treasury stock for cash. Apr. July 5 Decla red a $0.50 per share cash dividend, date of reco rd July 10. July 31 Declared a 20% stock dividend when the stock's market value was $12 per share. Aug. 14 Issued the stock dividend that was declared on July 31.. oct. 5 Declared a $0.50 per share cash dividend, date of record April 10. 5 Declared a $e.50 per share cash dividend, dat of recor october 10. Problem 11-4A Part 2 2. What is the total dollar amount for each of the four cash dividends? Apr. 5 July 5 Jan. 5 Oct. 5 Cash dividend amounts Stockholders' Equity (January 1) Common stock-$4 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, conmon stock Retained earnings Total stockholders' equity $160,000 120,000 320,000 $600,000 Stockholders' Equity (December 31) Common stock-$4 par value, 100,000 shares authorized, 47,400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($30,000 restricted by treasury stock) $189,600 179,200 400,000 768,800 (30,000) Less cost of treasury stock Total stockholders' equity $738,800 The following transactions and events affected its equity during the year 5 Declared a se.50 per share cash dividend, date of record January 10. Jan. Mar. 20 Purchased treasury stock for cash. Apr. July 5 Declared a $0.50 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stock's market value was $12 per share. Aug. 14 Issued the stock dividend that was declared on July 31. 5 Declared a $e.50 per share cash dividend, date of record April 10. 5 Declared a se.50 per share cash dividend, date of record October 10. Oct. Problem 11-4A Part 3 3. What is the amount of retained earnings transferred to paid-in capital accounts (capitalized) for the stock dividend? Capitalization amount Saved Paid-in capital in excess of par value, common stock Retained earnings Total stockholde rs' equity 120,000 320,000 $600,000 Stockholders' Equity (December 31) Common stock-$4 par value, 100,000 shares authorized, 47,400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($30,000 restricted by treasury stock) $189,600 179,200 400,000 768,800 (30,000) $738,800 Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. 5 Declared a $e.50 per share cash dividend, date of record January 10. Jan. Mar. 20 Purchased treasury stock for cash. Apr. 5 Dec la red a $0.50 per share cash dividend, date of record April 10. July 5 Dec la red a $0.50 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stock's market value was $12 per share. Aug. 14 Issued the stock dividend that was declared on July 31, Oct. 5 Declared a $e.50 per share cash dividend, date of record October 10. Problem 11-4A Part 5 5. How much net income did the company earn this year? Net income

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

ISE International Accounting

Authors: Timothy Doupnik, Mark Finn, Giorgio Gotti, Hector Perera

5th Edition

1260547981, 9781260547986

More Books

Students also viewed these Accounting questions

Question

Discuss whether happier people make more money.

Answered: 1 week ago